Investor risk sentiment is showing greater conviction on Thursday, with all indices and major stock sectors in the green, after Wall Street failed to hold onto opening gains and closed in the red the previous day.

Weekly jobless claims numbers, which came in at 233,000 last week — a significant drop from the previous 250,000 and below the expected 240,000 — helped ease recession fears.

Additionally, the notable decline in weekly claims in Texas suggests that a one-off event like Hurricane Beryl might have contributed to the increase in claims and the July unemployment rate, thus alleviating fears of a more structural trend.

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